Osteopore Ltd Launches Capital Raising To Strengthen Balance Sheet & Sales Push

Osteopore Ltd (ASX: OSX) has launched a $3 million capital raising to augment sales of its 3D-printed biomimetic and bioresorbable implants.

The regenerative medicine company recently achieved an important milestone of 100,000 implants. The implants empower natural tissue regeneration.

Almost 80% of these implants are on the back of their commercialisation efforts over the last four years.

Issue details

  • The 10-for-1 renounceable pro-rata entitlement offer to raise to A$3 million is pitched at $0.029 per share.
  • This is a discount of 94.42% to the closing share price of $0.52 on 12 March 2024.
  • For every 5 new shares subscribed under the Entitlement Offer, shareholders will receive one free-attaching option at an exercise price of A$0.0387, which will expire two years from the closing date of the Entitlement Offer.
  • The Company has entered a mandate with Advance Capital Partners Pte Ltd in connection with fundraising and general corporate advisory activities.
  • Advance Capital will be entitled to a fee of up to A$90,000, 3% of the proposed maximum subscription of A$3,000,000 because of the Entitlement Offer.

Funds raised will strengthen Osteopore’s balance sheet and support the business to maintain sales momentum.

As well, funding will secure regulatory clearances in new markets and advance M&A opportunities.

Osteopore’s products aim to stimulate natural bone healing across multiple segments, with the company’s technology supported by around 30 clinical publications.

The technology creates patented scaffolds using 3D-printed biomimetic and bioresorbable materials to guide and nurture bone-forming cells.

Through its proprietary manufacturing process, the patented scaffolds enable bone tissue growth, significantly reducing the post-surgery complications commonly associated with permanent bone implants.

Osteopore’s revenue growth continued into the December 2023 quarter growing 61% year-on-year, achieving record financial year revenue of $2.2 million.

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